Laird v Simcock & ors [2023] WTLR 1393

Wills & Trusts Law Reports | Winter 2023 #193

The deed was intended to appoint a life interest in the assets not attracting IHT relief to the deceased’s widow, the first defendant. The interest so appointed would then qualify for the spousal exemption. Due to the wording of the deed however it appointed an interest in all of the trust assets, not merely those which did not qualify for IHT relief.

The claim was issued for rectification of the deed. The claim was adjourned with directions at the first hearing, the Master expressing the view that the evidence was insufficient to sustain the rectification claim. Further evidence ...

Laird v Simcock & ors [2022] WTLR 1351

Wills & Trusts Law Reports | Winter 2022 #189

By his will, the late Robert Simcock created a trust over the sum of £200,000, under which his wife Catherine was to be the life tenant. Subject to that, the capital and income of that trust was to be held on the terms of a discretionary trust of residue also created by the will, the objects of which were Catherine, and Robert’s children and remoter issue.

Solicitors acting for the family determined that only a portion of Robert’s estate would benefit from Agricultural Property Relief (APR) and Business Property Relief (BPR), with the consequence that, absent an appointment from t...

Bracey v Curley & anr [2022] WTLR 419

Wills & Trusts Law Reports | Summer 2022 #187

Mr Bracey passed away on 27 May 2018, leaving a will dated 31 July 2015. Under that will, Mr Bracey appointed the second defendant as his executrix and trustee. The grant of probate issued on 16 March 2020 to the second defendant. Mr Bracey had been predeceased by his wife, who, like Mr Bracey himself, had been unwell at the time at which Mr Bracey had executed his will. The case related to a dispute between Mr Bracey’s son (the claimant) and his daughter (the first defendant) concerning the proper construction of the will and whether it should be rectified.

The first issue was wh...

Ware v Ware [2021] WTLR 725

Wills & Trusts Law Reports | Summer 2021 #183

The claimant’s father (the testator) died on 21 October 2003 leaving his half share in the matrimonial home and his residual estate to his wife, the defendant, absolutely. On 4 October 2005 the defendant varied those dispositions by a deed of variation which, for inheritance tax purposes, was read back to the date of the testator’s death. The deed of variation created two trusts: the property trust and the will trust.

The property trust held the testator’s half share in the matrimonial property on trust for the defendant for life, with the remainder to the claima...

Ralph v Ralph WTLR(w) 2021-04

Wills & Trusts Law Reports | Web Only

A house was purchased in the joint names of the defendant and his son, the claimant. At least part of the reason for the claimant’s inclusion was that it allowed the defendant to benefit from a mortgage needed to finance the purchase. The TR1 bore an ‘X’ in Box 11 which appeared next to the words ‘the transferees are to hold the property on trust for themselves as tenants in common in equal shares’. The claimant sought a declaration that the property was held as described by Box 11 and an order for sale. The defendant maintained in a number of witness statements that the ticking of Box 1...

RBC Trustees (CI) Ltd & ors v Stubbs & ors [2018] WTLR 1399

Wills & Trusts Law Reports | Winter 2018 #170

The claim was brought to rectify two deeds of revocation and appointment made in 2008 and 2014, or alternatively to rescind them on the grounds of mistake.

Each of the settlor’s adult children had an interest in possession in a one sixth share of the trust fund. In 2004, in order to ensure that no inheritance tax was payable upon their one sixth share of the trust fund as a result of their deaths, the trustees appointed successive life interests for the spouses of two of these children, Michael and Joanna. Unfortunately, both Michael and Joanna’s marriages ended in divorce. The tr...

A & ors v D & ors [2017] EWHC 2222 (Ch)

Wills & Trusts Law Reports | Autumn 2017 #169

A & B were the current trustees of a settlement known as the Children’s Trust dated 21 March 2000. They were, with C, the current trustees of a settlement known as the M Trust dated 7 December 2004 (together the ‘Settlements’). A was the settlor of the settlements. D, E & F were his three minor children. G was joined in as a person appointed to represent a class of unborn beneficiaries. The settlements were drafted to qualify as accumulation and maintenance trusts within the requirements of Section 71 of the Inheritance Tax Act 1984 (‘1984 Act’). Both made provision for a class o...